Small caps news round-up

European Metals Holdings is pleased with results from the PSn13 drill hole, which returned a main mineralised intercept of 167.1m averaging 0.36% lithium oxide. This intercept, within the Cinovec deposit, included high-grade intervals of 12m averaging 0.77% lithium oxide and 7m averaging 0.87% lithium oxide , as well as a tin-enriched interval of 8m averaging 0.16% tin.

Romania and Zimbabwe-focused miner Vast Resources announced on Wednesday that it has raised £0.86m before costs through a placing and subscription of 300 million ordinary shares of 0.1p in the company, at a price of 0.285p per share. The AIM-traded company said that, for each share placed or subscribed it would also issue one warrant entitling the holder to a new share at any time up to 30 June 2019, subject to shareholder approval.

Technology company Guscio announced on Wednesday that it has issued 125,000 new ordinary shares of 0.1p each at a price of 4p per share, as a payment to an adviser in lieu of fees. The AIM-traded firm said the issue price is the price at which the company’s most recent fundraising was completed on 24 May.

Brownfield regeneration specialist and housebuilder Inland Homes announced on Wednesday the unconditional purchase of a substantial regeneration project in Cheshunt, Hertfordshire. The AIM-traded firm said contracts have been exchanged by a 50-50 joint venture with an unnamed partner, on a site of around 13 acres - which includes the former Tesco head office - with the transaction completing in mid-August.

Integrated systems and software design company Cyan Holdings’ half year profits rose in line with expectation as due to the acquisition of CyanCannode and a growth of international contracts. In the AIM listed company's trading update for the six months ended 30 June, it said revenue increased more than 500% to over £1m, compared to the same period last year.

Dalradian Resources announced on Wednesday that it has been granted option agreements for precious metals and prospecting licences for base metals, in two new licence areas contiguous with its existing licences in Northern Ireland. The AIM-traded company said the two new licence areas have the same structure as the pre-existing licences.

Investment trusts company Caledonia Investments agreed to buy Liberation, a pub and restaurant business from LGV Capital, part of Legal & General, for £118m. Caledonia said they will invest £70.6m in cash and acquire a 98% equity stake. Liberations’ management team will subscribe a further £1.4m.

Melrose Industries has agreed to acquire US air conditioning and security technology group Nortek for $1.44bn in cash, funded by a proposed £1.61bn issue of new shares. Due to the size of the deal, where the proposed offer price of $86 per share values Nortek's shares at $1.436bn (£1.1bn) and the entire enterprise including debt at $2.81bn million (£2.15bn), it will be classed as a reverse takeover and require the approval of FTSE 250-listed Melrose's shareholders.

Craneware shares rose on Wednesday after the US-focused healthcare company said it has achieved a third consecutive year of record sales. In a trading update for the year to 30 June 2016, the group said it returned to double digit growth in revenues and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA).